Royal Bank Of Canada Begins Coverage on Fortive (NYSE:FTV)

Fortive (NYSE:FTV – Get Free Report) had its price target boosted by stock analysts at Royal Bank Of Canada from $59.00 to $68.00 in a research report issued to clients and investors on Thursday, Marketbeat reports. The firm presently has a “hold” rating on the technology company’s stock. Royal Bank Of Canada‘s price target would suggest a potential upside of 3.98% from the stock’s previous close.

FTV has been the subject of several other research reports. Robert W. Baird set a $75.00 price objective on Fortive in a research report on Thursday. Mizuho set a $55.00 price target on shares of Fortive in a research note on Thursday. Weiss Ratings upgraded shares of Fortive from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday. Citigroup raised their price objective on shares of Fortive from $65.00 to $71.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Truist Financial reissued a “hold” rating and set a $65.00 price objective (up from $63.00) on shares of Fortive in a report on Thursday. Two analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $64.36.

View Our Latest Report on Fortive

Fortive Trading Down 0.7%

Shares of NYSE FTV traded down $0.44 during trading on Thursday, reaching $65.40. The stock had a trading volume of 1,065,593 shares, compared to its average volume of 3,085,673. The business’s 50-day moving average price is $57.66 and its 200-day moving average price is $58.60. Fortive has a fifty-two week low of $49.03 and a fifty-two week high of $67.03. The company has a market cap of $19.75 billion, a P/E ratio of 31.14, a PEG ratio of 2.57 and a beta of 1.07. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.23.

Fortive (NYSE:FTV – Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The technology company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.07. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.07 billion. Fortive had a return on equity of 15.79% and a net margin of 14.83%. Fortive’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.68 EPS. On average, equities research analysts predict that Fortive will post 3.12 EPS for the current fiscal year.

Insider Buying and Selling at Fortive

In other Fortive news, SVP Peter C. Underwood sold 8,662 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $61.59, for a total transaction of $533,492.58. Following the completion of the transaction, the senior vice president directly owned 79,118 shares of the company’s stock, valued at $4,872,877.62. This trade represents a 9.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Mather Group LLC. grew its stake in shares of Fortive by 86.8% during the 3rd quarter. Mather Group LLC. now owns 467 shares of the technology company’s stock worth $26,000 after acquiring an additional 217 shares in the last quarter. Virtus Advisers LLC bought a new stake in shares of Fortive in the second quarter worth $30,000. Keating Financial Advisory Services Inc. acquired a new position in Fortive during the second quarter worth $30,000. Main Street Group LTD acquired a new position in Fortive during the first quarter worth $31,000. Finally, Dakota Community Bank & Trust NA grew its position in Fortive by 59.2% in the first quarter. Dakota Community Bank & Trust NA now owns 702 shares of the technology company’s stock valued at $39,000 after purchasing an additional 261 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

About Fortive

(Get Free Report)

Fortive Corporation NYSE: FTV is a diversified industrial technology company that develops and provides products, software and services designed to improve the productivity, safety, reliability and efficiency of businesses and public-sector organizations. Its offerings support customers in industries including manufacturing, healthcare, utilities, transportation, commercial facilities and government.

The company’s portfolio includes electronic test and measurement equipment, calibration and asset-management solutions, workplace and facility-management software, engineering and infrastructure software, product identification and traceability systems, and healthcare technology.

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